Russian financier involved in Saab rescue arrested in Britain

Nov 25, 2011, 10:53 GMT

London/Stockholm - A Russian financier and his business partner, who are involved in the rescue of Swedish carmaker Saab, have been arrested in London in connection with an inquiry into asset stripping of a bank based in Lithuania, police said Friday.

Vladimir Antonov, who also owns Portsmouth Football Club in Britain, is wanted by Lithuanian prosecutors, who want to question him as part of an investigation into claims involving Snoras Bank, the BBC reported.

Snoras Bank went into temporary administration last week. On Tuesday, the authorities in Latvia suspended a subsidiary there, Krajbanka.

'In response to a Europe-wide arrest warrant officers arrested two men, aged 36 and 53,' a spokesman for City of London police told dpa Friday. The arrests were made on Thursday.

Although police did not identify the men, the second man being held is believed to be Raimondas Baranauskas, a fellow-manager and shareholder of Snoras Bank for whom an arrest warrant had also been issued.

A court in Lithuania on Tuesday granted the request by the prosecutor general's office as a pre-trial investigation into alleged fraud and money laundering was launched, the BBC reported.

'Both former managers of the bank Snoras have been recognized as suspects with regard to misappropriation of property on a large scale and forgery of documents,' a statement by the prosecutor's office said.

Antonov owns 68 per cent of Bankas Snoras and an administrator has been appointed to assess its financial position.

Also a key figure in attempts to rescue Swedish carmaker Saab, Antonov is alleged to have invested some of the capital of former Snoras Bank into the rescue efforts.

Saab is in the process of being sold to Chinese owners.

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